Innovation may be defined as exploiting new ideas leading to the creation of a new product, process or service.
It is not just the invention of a new idea that is important, but it is actually "bringing it to market", putting into practice and exploiting it in a manner that leads to new products, services or systems that add value or improve quality. Innovation also means exploiting new technology and employing out-of-the-box thinking to generate new value and to bring about significant changes, patient benefit, cost savings and revenue within the organisation and wider NHS.